2019 Interim Results Credit Presentation
MREL¹
Loss absorption
amount
Recapitalisation
+
amount
26.39%
MREL
Target
1.5%
O-SII²
2.5%
CCB2
2.25%
P2R2
8%
Own Funds
Pillar 1
Requirement
2019 Interim Results Credit Presentation
Market
Confidence Charge
1.5%
O-SII²
-1.25%
2.75%
2.5%
CCB2
-0.86%3
2.25%
P2R2
8%
Own Funds
Pillar 1
Requirement
9.39%
14.25%
The Group has been advised of the decision by the SRB and the Bank of England of its binding MREL requirement to be met by 1 January 2021
This has been set at a level of 12.86% of total liabilities and own funds as at December 2016 (equivalent to 26.39% of risk weighted assets)
Current MREL target calibration excludes UK & ROI CCyBs. CCyBs expected to be included in future target calibrations
•
Modest issuance of c.€1-2bn p.a. expected to meet this requirement
Minimum Requirement for Own Funds and Eligible Liabilities as at 30 June 2019
2 Other Systemically Important Institution (O-SII), Capital Conservation Buffer (CCB) and Pillar 2 Requirement (P2R)
3 Bank Specific Adjustment of 0.86%
Bank of Ireland
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